Slowdown seems to be
creeping into the housing loans segment, going by the Reserve Bank of India ‘s
(RBI's) sectoral deployment of bank credit data.
As of January 25,
2013 banks’ loans to the housing segment (including priority sector housing *)
in year on byear terms rose at a slower
clip of 12.3% (13.3 % in the year ago period).
Bank loans to the
housing segment was at Rs. 4,44,600 crore (against Rs. 3,95,900 crore as of
January 27, 2012).
According to a senior
public sector bank official, Though banks have cut interest rates on housing
loans, high property prices are putting off house buyers in the metros
& big cities. However, there is good demand for housing loans in
smaller cities & towns.
Housing loans under
the priority sector lending category also reported a slower growth of 6.9% in
January, 2013 from 7.9% in January 2012.
* Home loans up to Rs. 25 lakh in metros and Rs. 15 lakh in
other centres are classified as priority sector lending.
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